Unbundling Legal Institutions That Matter for Inclusive Growth in Sub‐Saharan Africa
Bibliographic Data
| ID | 6445827 |
|---|---|
| Authors | Ebenezer Boateng (0000-0001-7297-7943, University of Cape Coast), John Gartchie Gatsi (0000-0003-0650-697X, University of Cape Coast), Mac Junior Abeka (0000-0002-5494-7545, University of Cape Coast), Michael Owusu Appiah (0000-0003-1444-3876, University of Cape Coast), Nathaniel Kwapong Obuobi (0000-0002-1851-3424, University of Cape Coast), Emmanuel Kwakye Amoah (0000-0002-2155-2205, Regent University College of Science and Technology) |
| Year | 2025 |
| Volume | 17 |
| Issue | 1 |
| Publication date | 2025-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Poverty & Public Policy (JOURNAL) |
| Journal identifiers | ISSN: 1944-2858 • E-ISSN: 2194-6027 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/pop4.70001 |
| OpenAlex | W4408979352 |
| Language | EN |
| References cited | 85 |
The consensus among academics and policymakers is that countries in Sub‐Saharan Africa (SSA) must pursue policies aimed at promoting inclusive growth to have the needed impact on minimizing income inequality and reducing poverty. However, there are ambiguities in the literature regarding the main factors that can elicit the participation of poor and marginalized groups in the growth process. This thesis extends the arguments of the new institutional economics and law and finance theory to examine the roles of legal institutions in promoting inclusive growth in SSA. Using data from 2007 to 2018, and after having controlled for endogeneity bias with the two‐step system generalized method of moments (GMM), we find evidence to support the hypothesis that strengthening the overall quality of legal institutions (rule of law) enhances inclusive growth in the region. Further, we document a significant positive influence of disaggregated measures of judicial independence, reliability of police, cost of enforcing contracts, and legal procedures in settling disputes on inclusive growth. However, our findings reveal that strengthening creditor rights protection and property rights protection harms inclusive growth in the region. Therefore, seeking to enhance equitable access to social and economic opportunities, our findings call for SSA countries to strengthen the quality of their legal framework. By unbundling the legal framework of the countries, our findings also provide pertinent inferences for policymakers on which institution‐specific aspects of the legal framework are vital for promoting inclusive growth in the region
Business · Development economics · Economic growth · Economics · Inclusive growth · Industrial organization · Poverty · Unbundling · Economic Growth and Development · Income, Poverty, and Inequality · Microfinance and Financial Inclusion
How to do Xtabond2
Persistence of Power, Elites, and Institutions
How to do Xtabond2
On the mechanics of economic development
Some Tests of Specification for Panel Data
Africa's Growth Tragedy
Another look at the instrumental variable estimation of error-components models
Initial conditions and moment restrictions in dynamic panel data models
Renewable energy consumption in Africa
Economic Institutions, Political Institutions and Renewable Energy Production in Africa
Public investment and inclusive growth in Africa
Institutions and economic growth in Ecowas
A review of theories and evidence of inclusive growth
From Millennium to Sustainable Development Goals
Measuring the Rule of Law
A Note on the Theme of Too Many Instruments
Investor protection and corporate governance
Federal deductibility and local property tax rates
Inclusive Growth in cities
Unbundling Institutions
Law and Finance
Endogenous Technological Change
The Nature of the Firm
The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957
A Contribution to the Theory of Economic Growth
Labour market regulation and subjective well‐being in low‐income countries
The Rule of Law and Economic Development
Institutional barriers to women’s employment in Saudi Arabia
Thieves Should not Live Amongst People
Institutions
The origins of policing institutions
An Economic Theory of the Growth of the Western World
| Citation velocity | historical |
|---|---|
| Highly cited | No |